MEXICO CITY, March 23 (Reuters) - Arca Continental, Latin America’s No. 2 Coke bottler, on Wednesday said it had further increased its stake in Peru’s Corporacion Lindley, lifting its holding of so-called investment shares to nearly 22 percent.
Arca said it had acquired 14.5 million of what are called investment shares in Peru, which confer economic rights to their owners but not voting rights. Arca’s holding of these shares now stands at 21.96 percent, the company said in a statement.
Arca, which has sought to strengthen its position in South America, paid $910 million to the Lindley family for 53 percent of its common shares last year. It has since boosted its common shares to more than 60 percent.
The Coca-Cola Company holds most of the rest, or about 38.5 percent of Lindley’s common shares with voting rights. (Reporting by Adriana Barrera, writing by Anna Yukhananov; Editing by Gopakumar Warrier)